Moe's optimism about India's edtech sector contrasts sharply with the sector's overall sentiment, as investors have stayed away from it in the last ten months.
Quazzo’s comments on ChatGPT attain significance as the AI tool that can perform tasks ranging from answering questions to writing fiction and non-fiction has got educationists divided over whether it is useful or “dangerous” for learning.
"It is way too early to be negative. India is still the most exciting market for me along with the U.S. These are very early days for the Indian edtech market," Deborah Quazzo, managing partner at GSV, said.
AdmitKard plans to use the funds to expand to more services, hire more people across departments and become an end-to-end admission services provider by launching services such as financing and scholarships, the company’s co-founder Piyush Bhartiya, co-founder, AdmitKard told Moneycontrol on the sidelines of the summit
The higher learning edtech platform will use the funds to boost its growth plans in India and international markets
PhysicsWallah reported a net profit of Rs 97.8 crore for FY22, up nearly 14 times from its FY21 profit of Rs 6.93 crore. Its revenue from operations grew nearly 10-fold during the period to Rs 232.5 crore from Rs 24.6 crore in FY21
The new fund will be used to strengthen Learning Experience Platform and expand the sales and marketing team to widen the customer base.
PhysicsWallah raised the money at $1.1 billion valuation, becoming India's 101st unicorn, the company said. PhysicsWallah said it plans to use the funds for business expansion, branding, opening more offline learning centres, and introducing more course offerings, the company added.